ECONOMY

New plan to cut red tape

The government is drafting a plan to cut red tape and facilitate the implementation of investments through lifting up to 70 bureaucratic barriers, Regional Development Minister Michalis Chrysochoidis told the 1st Hellenic-Chinese Business Partnering Conference in Athens on Tuesday.

Organized by the Foundation for Economic and Industrial Research (IOBE) and the Business Confucius Institute (BCI), the conference that concludes on Wednesday heard Chrysochoidis suggest that the local economy can grow in the next 30 months through coordinated practices and without loans from abroad.

?We can regain the 25 billion euros lost from the market due to the crisis by mobilizing six sources of growth potential: Exports, privatizations, foreign investment, the targeted use of European Union funds, increasing production for domestic consumption and the reduction of the illegal economy,? the minister claimed.